The sale of the NEC Group could be completed this week, according to reports.

Sky News says LDC, the private equity arm of Lloyds Banking Group, will take control of the group whose venues include the Genting Arena and National Exhibition Centre in Solihull and International Convention Centre and Barclaycard Arena in Birmingham city centre.

The group was placed on the market last March by Birmingham City Council as it bids to address a deluge of compensation claims relating to equal pay.

An announcement about the deal, which Sky sources said could be worth in the region of between £250 million and £300 million, is expected to be made as soon as tomorrow.

Casino group Genting, which recently agreed a naming rights deal for the former LG Arena, is putting the finishing touches to Resorts World, a major entertainment and exhibition venue on land next to the arena and NEC.

It is unclear, according to Sky, whether LDC will acquire the entire business or Birmingham City Council will remain a shareholder.

LDC and the NEC Group declined to comment.